How to Implement
Guidance
Define the Government’s role(s) in the Scheme.
The Scheme rules recognize that Government entities will participate in different capacities (e.g., regulator, governance, end user and possibly DFSP) and clearly defines these role(s). Doing so allows DFSPs to interact with the different entities on the basis of their particular role and helps to avoid conflicts.
Provide influential role for the central bank in Scheme governance.
As the primary overseer of the payment system and steward of its enhancements, the central bank should be part of the governance of the Scheme and an active contributor toward furthering inclusive outcomes.
Influence Scheme design toward meeting end user needs.
A range of government entities should contribute to setting targets for Scheme use by different groups – including the poor, women, other important demographics – and efforts to monitor and ensure the attainment of these objectives through educational or promotional campaigns, mandating usage of the Scheme for some payments, or temporary, direct subsidies, if needed.
Why It Matters
A close relationship between Scheme and Government, most especially the central bank, ensures that the Inclusive IPS is a central part of financial inclusion and digitization efforts. Also, Governments are often important payers and payees in a country. Importantly, a key role for Government helps ensure that the policies and regulations that shape the Scheme are fully considered.
Related Resources
From the Community
Helpful resources from other organizations on implementing this practice.
Explore more practices
Review other L1P practices and learn more about how to apply them to your IPS.
